On March 11, 2024, CYPC successfully issued the first tranche of 2024 sci-tech innovation corporate bonds with a scale of RMB 2 billion yuan, a term of 10 years, and a coupon rate of 2.70%. This marked the lowest coupon rate for domestic 10-year corporate bonds in history, matching the lowest rate among all types of domestic 10-year credit bonds (including corporate bonds, medium-term notes, and enterprise bonds, etc.). On March 13, the funds raised were smoothly credited, marking the successful completion of this bond issuance.

To ensure the success of the bond issuance, CYPC engaged in early planning, meticulous preparation, and active marketing. They continuously mobilized intermediaries in market-oriented asset management, insurance, funds, and wealth management, as well as securities firms, banks, and other financial institutions that maintain tight partnerships with CYPC to promote bond sales with solid steps. this issuance was well prepared and attracted strong willingness of subscription from institutional investors. A total of 32 investors participated in bidding, with total bids amounting to RMB 7.4 billion, representing a coverage ratio of 3.7 times. Ultimately, 15 institutions were allocated, with a marginal multiplier of 1.24 times, achieving significant results.

In the future, CYPC will continue to maintain top-notch credit qualifications at home and abroad. We will closely monitor the capital market situation and scientifically analyze the trends of bond market to leverage our financing advantages as a listed company. We will broaden financing channels, devise reasonable plans, and accurately seize opportunities to ensure ample funds for business development. Besides, we will strive to reduce financial costs and accelerate the formation of CYPC new quality productive forces. Through these efforts, CYPC is committed to creating a world-class clean energy listed company with hydropower at its core!